In Wake Of Massive Data Breach, Target CEO Steps Down | WAMU 88.5 - American University Radio

NPR : News

Filed Under:

In Wake Of Massive Data Breach, Target CEO Steps Down

In the wake of a massive data breach that exposed the personal information of about 70 million customers last year, Target CEO Gregg Steinhafel is stepping down, the retailer's board announced in a statement Monday.

"Gregg led the response to Target's 2013 data breach," the statement read. "He held himself personally accountable and pledged that Target would emerge a better company. We are grateful to him for his tireless leadership and will always consider him a member of the Target family."

The board added that "now is the right time for the new leadership at Target." Steinhafel's departure is effective immediately.

This is just the latest move in Target's reshuffling. In April, Target appointed a new chief information officer and announced plans for a chief information security officer and a chief compliance officer.

Steinhafel will be replaced on an interim basis by Chief Financial Officer John Mulligan.

The Wall Street Journal reports that Steinhafel is a 35-year "lifer" who was commended for his merchandising ability but whose tenure was inevitably marked by the 2013 data breach.

The Journal adds:

"Target spokeswoman Dustee Jenkins said Mr. Steinhafel's decision to step down was just made recently after extensive discussions.

"Target's board has been meeting monthly since the data breach, where 40 million credit and debit cards and personal information of 70 million people was stolen, was disclosed in mid-December. The last meeting was two weeks ago, Ms. Jenkins said.

"'The last several months have Tested Target in unprecedented ways,' Mr. Steinhafel said in a letter to Target's board Monday, adding that the company has already taken steps to improve its data security."

Copyright 2014 NPR. To see more, visit http://www.npr.org/.

NPR

'Team America' Is Benched: Won't Return To Theaters, Reports Say

One day after some U.S. theaters vowed to screen Team America: World Police in the place of The Interview, whose release was canceled, word has emerged that Team America has also been pulled.
NPR

What The Change In U.S.-Cuba Relations Might Mean For Food

The decision to normalize relations is driving all kinds of speculation about American food companies opening up shop in Cuba. But analysts say: Don't expect to see McDonald's there anytime soon.
NPR

Two Of Colorado's Neighbors Sue State Over Marijuana Law

Nebraska and Oklahoma have filed a lawsuit against Colorado with the U.S. Supreme Court, saying that its law legalizing marijuana isn't constitutional.
NPR

North Korea Has Invested Heavily In Cyberattacks

American officials have concluded that North Korea was behind the hack of Sony Pictures Company. Melissa Block talks to James Lewis of the Center for Strategic and International Studies.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.